Driver training school bond cost
The Colorado Department of Revenue’s Division of Motor Vehicles requires commercial driver training schools to post $10,000 surety bonds. The required bond amount increased from $2,500 in June of 2014.
These bonds are subject to underwriting, so the price you’ll pay for your bond depends on a review of your personal credit report. Qualified applicants could pay as low as 1% of the required bond amount, or just $100. Bad credit? No problem! The experts at Surety Bonds can help you get the bond you need quickly, easily and accurately.
Why this bond
Colorado driver training school bonds are put in place to ensure that consumers harmed as a result of a principal’s (driver training school’s) unethical and unlawful business practices are compensated for losses up to the full penal sum of the bond.
Unethical acts covered by this bond include, but are not limited to:
- Practicing as a driver training school or as an instructor without holding a valid license
- Performing any act or function that is restricted by statute or regulation
- Willfully refusing to provide the department with information or records required or requested
- Asserting or implying that every student will pass the state driver’s license examination
- Transacting or soliciting driver training school business on property owned, leased or maintained by the department
- Falsifying forms, certificates or other documents for use by students to obtain a driver’s license
- Creating false identification for any individual
- Providing instruction at a site not formally approved by the department
- And more
Driver training school bond details
Driver training school bonds in Colorado run continuously unless otherwise canceled by the surety or the principal. If the surety chooses to terminate the bond, a written notice prior to cancellation must be given to the obligee.
Become certified as a commercial driving school
- Provide proof of current and valid vehicle insurance, vehicle registration, general liability insurance and worker’s compensation insurance
- Maintain a surety bond executed by a surety company authorized to do business in Colorado in the amount of $10,000
- And more
Applicants should visit Colorado’s Department of Revenue Division of Motor Vehicles website for more licensing information.
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- Code of Colorado Regulations Secretary of State State of Colorado Department of Revenue Division of Motor Vehicles Rules for Commercial Driving Schools and/or Approved Driver Education Courses, Including the Basic Operator’s Driving Skill Testing (Bost) Program
- Surety Bond Insider Colorado increases surety bond requirement for driver training schools
- Colorado Secretary of State Code of Colorado Regulations
- Colorado Department of Revenue Division of Motor Vehicles